Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019.
Barry Chin | Boston Globe | Getty Photos
Klaviyo is focusing on a completely diluted valuation of as much as $9 billion in its preliminary public providing after it raised the proposed worth vary of its shares in a submitting on Monday.
The advertising and marketing automation firm estimated within the submitting that its IPO worth will fall between $27 and $29, up from the $25 to $27 vary it beforehand estimated. Klaviyo introduced the launch of its IPO final week and plans to checklist shares on the New York Inventory Trade below the ticker “KVYO.”
Klaviyo’s IPO comes after a years-long stretch of only a few vital venture-backed tech IPOs. It follows Instacart’s IPO announcement and Arm’s debut, exhibiting an early signal that tech IPOs might be making a comeback. Relying on how Klaviyo, Instacart and Arm carry out, their choices may encourage different tech corporations to observe.
E-commerce firm Shopify owns about 11% of Klaviyo shares, the advertising and marketing agency disclosed, with about three quarters of its annualized recurring income derived from prospects who use Shopify, as of the tip of 2022.
–CNBC’s Annie Palmer contributed to this report.
WATCH: Tech agency Klaviyo information for IPO
